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Qatar's Commercial in UAB deal

Doha, August 16, 2007

Commercial Bank of Qatar (CBQ) has won initial agreement from shareholders of United Arab Bank (UAB) to buy a "significant" stake.

The bank said it will also manage the UAE lender.

The Qatari bank said in a statement it agreed with the Sharjah-based UAB "and with a number of major shareholders, which provide for CBQ to acquire a significant shareholding in UAB, and to enter into a Management Services Agreement."

It did not provide details. - Reuters




Tags: Qatar | Sharjah | UAB |

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